Mutual Fund Benchmarks as of April 30, 2012

Index Total Return Average Annual Compound Return
1 mo. 3 mo. 6 mo. 1 yr. 2 yrs. 3 yrs. 5 yrs. 10 yrs.
Note: All Benchmarks are expressed in Canadian Dollars.
Source: Datastream, ScotiaMcLeod, Frank Russell Canada, Morgan Stanley Capital Int'l.
BMO Nesbitt Burns Cdn Small Cap Index -3.2 -3.8 1.0 -13.8 5.3 23.9 1.3 9.0
CPI - All Items 0.4 1.2 0.9 1.6 2.4 2.2 1.7 2.0
Canada Savings Bonds Index 0.0 0.1 0.2 0.6 0.6 0.7 1.5 1.7
Citigroup World Government Bond Index 0.3 -2.0 -0.2 7.6 5.9 0.4 4.5 2.8
HANG SENG Total Return Index 1.5 1.9 5.7 -7.3 -1.2 4.1 -1.3 1.5
MSCI EAFE ($ Cdn) -2.9 1.7 2.2 -8.7 1.2 5.4 -6.4 1.1
MSCI Emerging Markets Free ($ Cdn) -2.3 -0.2 3.5 -8.7 0.4 11.6 1.5 9.1
MSCI Europe ($ Cdn) -3.2 2.0 1.5 -12.3 1.7 5.7 -7.1 1.0
MSCI Japan ($ Cdn) -4.3 1.6 3.3 0.9 -1.8 1.1 -7.4 -1.5
MSCI World ($ Cdn) -2.1 3.5 7.3 -0.0 5.6 9.1 -3.4 0.8
NASDAQ Composite ($ Cdn) -2.5 6.5 12.9 10.5 10.0 13.7 1.5 1.3
NIKKEI 225 Total Return Index ($ Cdn) -3.8 1.8 2.9 2.3 -0.6 3.4 -6.0 -1.7
Russell 2500 ($Cdn) -1.8 3.4 11.5 1.9 8.8 14.7 0.1 2.6
S&P 500 Composite ($ Cdn) -1.8 4.7 11.0 6.8 7.3 9.9 -3.4 -2.0
S&P/TSX Dividend Composite -0.5 -0.5 1.3 -9.3----
S&P/TSX Equity Income Index -0.7 1.2 3.1 -3.1----
S&P/TSX Small Cap -3.9 -6.9 -2.9 -19.8 0.5 17.6 -4.7 2.1
S&P/TSX Small Cap Total Return -3.8 -6.3 -1.7 -17.8 3.0 20.9 -3.0-
S&P/TSX Total Return -0.6 -0.6 1.8 -9.4 3.1 12.7 1.1 7.4
1-Year Average GIC Index 0.1 0.3 0.6 1.0 0.9 0.7 1.3 1.6
5-Year Average GIC Index 0.1 0.4 0.9 1.8 1.9 1.9 2.4 2.8
91 Day Treasury Bill Index 0.0 0.2 0.4 0.9 0.8 0.6 1.6 2.3